ADGM signs deals with banks to support SMEs in Abu Dhabi

ADGM signs deals with banks to support SMEs in Abu Dhabi

Local News, News















Abu Dhabi / WAM

Abu Dhabi Global Market (ADGM), the international financial centre in Abu Dhabi, has partnered with Abu Dhabi Islamic Bank (Adib), Wio Bank, and Rakbank to facilitate knowledge sharing on latest banking developments and support small and medium-sized enterprises (SMEs) with access to key financial services.

The announcements were made during the first edition of Abu Dhabi Finance Week (ADFW) hosted by ADGM, in partnership with key economic drivers of the Abu Dhabi economy and a group of global and regional financial institutions.

The partnerships with Adib and Rakbank will focus on addressing the needs of key financial entities in Abu Dhabi by providing ADGM registered and licensed businesses with preferential banking services. The strategic agreements will see the parties collaborate with ADGM on initiating fast and efficient bank account opening, developing world-class education and business training material, as well as conducting research on financial services and fintech-related initiatives.

With the goal to further support SMEs in the UAE, the MoU with Wio Bank, the region’s first digital banking platform, will provide businesses with fast-tracked application submission and a unique opportunity to open a